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EV / sales at other companies

TeraWulf logo
TeraWulfWULF
39.9×+31.0×
Equinix, Inc. logo
Equinix, Inc.EQIX
12.5×+1.7×
Applied Digital logo
Applied DigitalAPLD
24.6×+10.4×
Iris Energy logo
Iris EnergyIREN
12.6×
Hut 8 Mining Corp. logo
Hut 8 Mining Corp.HUT
17.8×+9.1×
Cipher Digital, Inc.
 logo
Cipher Digital, Inc. CIFR
44.1×+38.5×

Other financials

Income statement

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Revenue$167.2M+3.6%
Operating income-$499.9M-114%
Net income-$500.5M-68.9%
EPS (diluted)-$1.44-60.0%

Balance sheet

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Cash & equivalents$205.7M+25.6%
Total debt$877.2M+41.8%
Total equity$2.4B-18.7%
Total assets$3.4B-7.6%

Cash flow

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Operating cash flow-$182.7M-49.6%
CapEx$115.5M+251%
Free cash flow-$298.1M-92.4%

Valuation

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Market cap$10.63B+87.9%
Enterprise value$11.3B+81.7%
P/S16.3×+3.9×

Profitability

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Gross margin62.4%
Operating margin-136%-835pp
Net margin-132.8%+148pp
FCF margin-140.4%+36.0pp

Returns & leverage

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Return on equity-32.5%-189pp
Debt / equity0.4×+0.2×
Current ratio1.1×-2.1×

Where this comes from

Calculated from Riot Platforms, Inc.’s reported figures.

Based on the most recent quarter.

The official record: Riot Platforms, Inc.’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Riot Platforms, Inc.'s EV / sales?
Riot Platforms, Inc. (RIOT) reported EV / sales of 8.2× in Q1 2026.
How has Riot Platforms, Inc.'s EV / sales changed year-over-year?
Riot Platforms, Inc.'s EV / sales increased by 27.6% year-over-year, from 6.4× to 8.2×.
What is the long-term trend for Riot Platforms, Inc.'s EV / sales?
Over 4 years (2021 to 2025), Riot Platforms, Inc.'s EV / sales has grown at a -6.5% compound annual growth rate (CAGR), from 10.8× to 8.3×.
What does EV / sales mean?
What the whole business costs relative to its annual sales.
How do you interpret EV / sales?
A fallback valuation gauge for pre-profit or cyclical firms. Like P/S, only comparable across similar-margin businesses, but it accounts for debt and cash unlike P/S.
How does EV / sales compare across companies?
Compare within a margin cohort; the debt-and-cash adjustment makes it cleaner than P/S for leveraged firms.